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Fly News Breaks for July 13, 2015
MUR
Jul 13, 2015 | 08:06 EDT
As previously reported, Morgan Stanley downgraded Murphy Oil to Underweight from Equal Weight. The firm expects Murphy Oil to lag the large cap E&P group and for its valuation discount to widen given a challenging offshore strategy, shorter drilling inventory life, and cash burn. Morgan Stanley cut Murphy Oil's price target to $48 from $50.
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